Studies show that moving towards a leaner business model can improve productivity by up to 25%, increase stock turnover by 33%, and increase on-time delivery by 26%.
The recognized benefits of being lean are only accumulating, with more and more studies advocating lean approaches in business for both economical and sustainable success.
However, some companies choose not to embrace lean philosophy through fear that the costs related outweigh the benefits gained. With this, we at Process Street have come to help.
You see, this fear has oozed from imperfect implementation and a misunderstanding. With the right lean tools and techniques, lean thinking can easily and successfully be applied.
In this article, we present you with our top 8 lean tools to assist you in implementing lean philosophy for your business or line of work. By using these tools, you will see a transformation, with maximal value and minimal waste.
Along with these tools, we grant you access to our template resources, which you can hop in and use right away for free.
Click on the relevant subheaders below to read the section of choice, alternatively scroll down for all I have to say.
From this article, you will learn what a project charter is and why you need one. The key elements that make a successful project charter and how you can implement these elements using our free Project Charter Template.
Click on the relevant subheader below to jump to the section of choice. Alternatively, scroll down to read all we have to say regarding project charters.
What do professional skydivers and successful project managers have in common?
They both identify, assess, and plan for risks.
Skydivers look at the conditions, equipment, and capabilities before, during, and after they jump out of planes. Project managers look at the conditions, equipment, and capabilities before, during, and after projects.
What makes it worse (or perhaps better?!) is that it wasn’t my money.
It was my previous employer’s.
I was managing a website build for a big client and was under huge pressure to meet a tight deadline. So, as many do, I decided to start the project before the Statement of Work (SoW) was signed by the client.
This was a big, expensive, mistake to make.
It cost an additional $45,000 to re-work parts of the build that the client had verbally approved, but hadn’t legally signed off.
(Despite what you might think, this isn’t the reason I don’t work there anymore!)
According to research, 37% of projects fail due to a lack of defined and approved project goals and objectives, which come with a Statement of Work (SoW). This causes around 80% of organizations to spend at least half their time on expensive rework.
“Not using a Statement of Work – SOW during the project initiation is a major cause of project failure” – 4PM, Statement of Work – SOW
But what is a Statement of Work (SoW) and how do you create one?
Tom: “I need a new warm, down jacket for my next trip.”
Me: “Great, I would opt for Patagonia or Arcteryx.”
Why did I recommend these brands to Tom and these brands only?
It is due to brand trust. I know these brands deliver exactly what I want consistently.
As consumers, Tom and I are Patagonia and Arcteryx stakeholders. We have expectations these two outdoor brands need to satisfy to retain our custom. These expectations translate into requirements. In this scenario, our requirements were:
Value for money
Robust, long-lasting products
Products that deliver on their intention
Patagonia and Arcteryx meet the business requirements for their products, satisfying stakeholder and business needs. And so the brands thrive with a good reputation, brand identity, leading to a healthy bottom-line and company success.
Defining the business requirements of a new product, project, system, service, or software is vital. Without defined requirements, there is an absence of clear goals, focus, and progression measures. This doesn’t bode well for success.
Because we don’t want you to fail, in this Process Street article we explain exactly what business requirements are and how you can identify them for your business or line of work. We explain the benefits that come from correctly defining business requirements. We then clarify how you can document business requirements in a Business Requirements Document using Process Street’s Business Requirements Template.
Sounds like the article you need to read to succeed…right? 😉
As such, let’s jump to it. Click on the relevant subheaders below to hop-across to that section. Alternatively, scroll down to read all we have to say:
There’s nothing more frustrating to a project manager than witnessing the slow, painful death of a healthy project to the beast known as scope creep. When last minute changes transform their straightforward, A-to-B project plan into a sprawling mess of up-ended sprint plans and gold-plated feature requests, branching out in all directions with no concern for time or resources.
In one extreme example, the head contractor for the extension of a city library ended up actually suing their client in a scope-creep induced rage, claiming that their almost 55-week delay was a direct result of the large number of last minute changes.
In order for a project to be successfully completed on time, the project manager and their team need to agree on a clearly defined project scope before getting started.
However, life isn’t so straight forward and changes to the project will inevitably need to happen.
But additional problems can arise if the changes aren’t dealt with properly.
Scope creep can quietly sneak its way into your project and set your team down an unproductive and self-destructive path, wasting your company’s resources, missing deadlines, weakening team communication and, ultimately, ruining any chance of your project’s success.
So what can you do to avoid this fate, and overcome scope creep once and for all?
In this Process Street article, we’ll be covering everything you need to know scope creep–from what (and who) causes it, to how to manage it, even in an agile environment where change is embraced.
The excitement around a new project is intoxicating.
After all, it’s an opportunity for your team to collaborate and put their well-honed skills to use.
But with important projects, excitement can easily turn into dread. Especially considering that 70% of organizations have failed one or more of their projects in the last 12 months, with a lack of clear goals being the main issue.
So how can everyone involved know what’s expected of them? What deliverables they must bring to the table? How their actions figure into the bigger picture? And how can you, the project manager, break the project down into manageable segments?
While The Beatles professed that “love is all you need”, what’s going to be more useful in this scenario is a work breakdown structure.
That’s why, in this Process Street post, you’ll learn what the work breakdown structure is, why it’s so useful, different examples of it, and tips on how to create a work breakdown structure yourself. To boot, you’ll even get your hands on our easy-to-use Work Breakdown Structure Template!
Read through the following sections to get clued-up:
Product roadmaps are an essential part of understanding how to align your product to a long-term vision for product-market fit. They are also one of the key deliverables for product managers and are useful to almost all teams and stakeholders.
What the product roadmap should provide:
Clear overview of key launch dates and milestones
Clearly communicate which teams are responsible for what
Clearly communicate important deadlines and time allocation
A beacon to align different teams to core company goals and objectives
What the roadmap shouldn’t include:
Goals and objectives unrelated to the product
Overload of information about specific product features and specifications for development
Too much data without clear association with company goals or objectives